Whilst there is no specific information identifying the individual involved in this Blog Entry, her story is being told with her express permission. This permission was given to ensure that as few people as possible avoid suffering from her experience.
Today I had a panicked call from a client of mine. She had received a call from an "Authorised Microsoft Engineer" based abroad stating that her computer had been running slowly and they could help to clean it up for a £60 paypal payment. My client's computer had been running quite slowly so felt this was an ideal opportunity to speed her PC up. The 'engineer' explained that once the payment had been made he would be able to access her PC remotely from his location and would clean her system and install software which meant that she wouldn't suffer a slowdown on her system in the future.
One important point to make at this juncture is that the client in question is a highly intelligent retired professional who had worked in senior positions within a number of businesses throughout her career. She had asked some of the right questions, checked the website address the individual had given her and felt that she was comfortable with the service they were providing. She therefore decided to pay the £60 and provide the engineer with remote access to her desktop to conduct the required work. After a little while the work was completed, the engineer thanked her for her business and even emailed a receipt.
However after a little while my client whilst using her computer felt that it hadn't got any quicker and became suspicious about the work the 'engineer' had completed. So, she decided to call a local IT specialist to gauge their thoughts. They were suspicious and agreed it sounded like something which might be a scam. Interestingly this Guardian article from 2010 talks about the approach these so called engineers make. However the IT specialists other concern was that this 'engineer' now potentially had access to all the data on her system which according to the expert is becoming more prevalent.
So, why did the client in question call me? She has a relatively large investment portfolio that we look after on her behalf. As many of us do she kept all of her financial information in a folder conveniently market 'Savings and Investments' containing account numbers, investment values and login details for on-line access. As soon as she contacted me we managed to contact all of her Investment and savings providers. On the majority of her investments we were able to set a flag on her account to ensure that if any transactions are attempted, both the client and I are contacted via phone to confirm it is work we are completing together. We also ensured that the majority of providers contact both of us via phone if they receive any requests to change her personal details (like her address for example).
It was a 3 hour job today sorting this out....however it was important that I took the time to ensure that my clients funds were as safe from fraudsters as it could be, so I believe it was time well spent. So, the moral of this story is quite clear....if you receive a unsolicited call from "A Microsoft engineer" please don't engage with them. It's highly unlikely they work for Microsoft, highly unlikely the "firm" they are working for is completely legitimate and could be potential fraudsters. Just politely decline these calls...you will save a lot of time for both yourself....and your Independent Financial Adviser.
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